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| Intraday Trade Recommendations Recommendation are given by members to members and are not endorsed nor warranted in any way by MoneyTec. All members participating are responsible for their own statements. |
| View Poll Results: Interested in following? | |||
| Yes |     | 79 | 83.16% |
| No |    | 16 | 16.84% |
| Voters: 95. You may not vote on this poll | |||
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02-18-04, 09:16 AM
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| PUT THEM IN AND GO FISHING SYSTEM (TRADE CALLS) Hi all Partner and I have been trading a forward order system that has worked for us on our live trading for about a year now. We are going to start calling the trades live over here. We are demo trading these specific calls for now as we have adapted them in such a way that we only look at the market twice per day and make the calls at the same time every day. This is obviously so that folk are able to follow easily. There will probably be two sets of calls made that you can test - we will see which produces the best results over time. Nice thing we have found looking at two systems is that results are evened out and drawdowns are smoothed over. (results are not that spiky and this is if you take both trades.) If you are going to test this with us - please take every call regardless of initial draw downs. The calls should be quite easy to follow. This is not a magic system and does not make 1000 pips per month (maybe it will  ) we have found that the system does have reasonable drawdowns so be wise with your money management. For now we hope that folk will only follow on a demo account though.Please advise on the way we make the calls here if we can improve in any way. Guidelines on how to effectively follow the calls will be given as we go along. We imagine that 3 months will be good testing and then if all is well we can go live! The live calls will proceed from Monday morning. GUIDELINES  Hi and welcome and thanks to all who are taking the time to test our calls with us. Just some pointers on our calls: 1. Please remember that our systems have changed somewhat to accommodate the 'Put them in and go fishing' approach (We believe that many folk would like to trade the market but don't have the time to watch the screen all day.) For this reason we will only be trading 'DEMO' for at least 2-3 months first. We ask that no one takes these trades live before they have produced a good track record that you are happy with and untill you feel you are able to follow us accurately. 2. The trades will be posted in two seperate posts, Paul will post his (Marlin Trade) and I will post mine (Baracuda Trade). We have thought that it will be easiest for all if we take a screenshot of the ORDERS and post that. Then all you need to do is make sure your orders look the same as ours. Prices are 'as is' u don't have to work out spread. The ORDERS screenshot will show the entry price, stop price and limit price. (If this window is empty or not in a post - then there are no orders waiting.) The OPEN ORDERS table shows the trades that have been triggered and are open. The CLOSED ORDERS table shows trades for the day that have been triggered and closed. If there is no post at all then it means that there is no change to the previous one. If we take orders out or change them there will be a post. 3. The idea of two systems is to even out draw downs over the long run. Take both if you want or follow only one - it is up to u. From time to time each trade could have 10 forward orders each. Of these orders, up to 3 could be triggered at any one time. Make sure that your money management (even though you are on a demo account) is able to absorb the possible drawdowns. Taking all trades is important as it is the only way you will be able to duplicate our results. 4.Times for the trade calls are 04h45 and 19h00 GMT for the Baracuda Trade calls, 05h00 and 20h00 GMT for the Marlin Trade calls. These are the times that orders will be called, changed or removed. If there is no post then there is no change from the previous post. To get the trades on time we suggest you open this thread on the last page and keep refreshing the browser around the posting times. This could be critical with trades that are close to entry. 5. Quite an important fact to make note of is that we use FXCM. All the prices we quote and results will be based on FXCM prices. If you are planning on duplicating our results exactly you will have to keep an eye on the FXCM pricing or use FXCM as broker. If you use another broker and want to check FXCM pricing we suggest you use these charts: http://www.dailyfx.com/fxpowerchart/ChartStation.html?elq=724EE14C7FFF4EA6ABDAA129D0B3 7E54 6. Further guidelines will be added as we go along and we will try keep it all on this specific post. If you don't want to post questions here then feel free to email us. Last edited by Magio; 03-25-04 at 01:38 PM. |
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02-25-04, 10:32 AM
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| System Hi Livermore Our system is not a mechanical one. It incorporates; Fibs, indicators, patterns, trends and some tight holding of the thumbs. By this Livermore I am saying that it is not as simple as giving you a formula or a couple of indicators and wait for the cross. You will notice that Paul's calls are very different to mine and we use basically the same system. It has taken me an odd two years to catch onto trading this way and I am not a very good teacher. I will let out one secret though, (well I think it is a secret). Trading with a forward order system like this eliminates a big problem in trading - emotions Other than this there are no secrets and other threads on Moneytec have much better training advice than we could give you. Hopes this is an ok answer Livermore - sorry about the lack of details. Thanks for your post. Last edited by Magio; 02-25-04 at 12:31 PM.           |
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02-25-04, 01:37 PM
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| Hi Magio, No, I don't think you gave a good answer. Most of the Moneytec-menbers are here to learn something, so we could be better traders. And what are you learning us? |
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02-25-04, 02:16 PM
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| Livermore Sorry Livermore but we are posting under the 'Recommendations' area for the purpose of calling trades. We are learning ourselves and as we mentioned earlier - the system we are employing right now is a little different to what we have used all along. This system is still in testing phase in order to suit the forward order trading style that only gets adjusted twice per day. And hey - we don't wanna give out all our big secrets. What happens at the end of 3 months when the results are good? Who is gonna pay us big bucks for this service if our secret system has been smeered all over the Moneytec site? lol Last edited by Magio; 02-25-04 at 02:28 PM. |
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02-25-04, 04:09 PM
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| Hi Guys Please note that if I don't post a recommendation at 18:00h GMT then the trades remain the same. More often than not I won't change the trades at this time. I will start posting my results from tomorrow as I am having a problem with my program at the moment. No good trades today but thats ok! Looking forward with excitement.  Cya P.... |
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02-26-04, 12:58 AM
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| TRADE RECOMMENDATION: Marlin Trade You will notice that I have order in the "Open positions" window. For anyone who is not exactly sure why that is, that means that position is not a forward order but a direct deal and must be put straight away. Please remember, DEMO ONLY  Cya P... |
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02-26-04, 07:09 PM
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| I don't get it. I thought trading two systems was supposed to smooth things over. All I see is a lot of trades in the hole and 1 in the black. Am I missing something here? Can you please explain how trading 2 systems will smooth things over? |
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02-27-04, 12:35 AM
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| Hi JR97 I promise this much...It ain’t time to panic yet. Our trading system has been very successful for the last year and a half. The big change is we are trying to put trades in at fixed times so that traders know what time to expect them. We have made it clear to everyone following that we expect there to be teething problems in the beginning for a number of reasons. Remember that we have a risk/reward ratio of between 1:3 and 1:4 so a trade that goes in our direction will undo 4 trades that don’t. If your money management and leverage is correct then you will be able to absorb losing trades. Rite now we are both adjusting our systems for the fixed time type of trading. Be patient we are both confident of what is to come. We decided to start posting this early because we thought it would be a great way to find out how and what would be the best way of posting the trades and we could get input from the traders themselves. Thanx and cheers Paul |
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